Don’t waste your money buying a property that does not adjust to your development objectives
Buying a property for a real estate project or development is not an issue that should be handled lightly. In most cases it requires a strong monetary investment and legal advice to ensure that the purpose you want to give the lot or development is viable or achievable.
At Jurex Law we always advise our clients on the necessary steps to guarantee the best results. In essence the use of a specific tool, prior to negotiate the purchase of a land, in order to know all the background regarding the property.
The Recorded Document Search (RDS) is an historical-registral review of the property intended for purchase, based on documents that belong to the land and that have been recorded at some point as part of the title at the Registro de la Propiedad (National Registry). This is an investigation linked to permitted and restricted uses, and the conformation of the lot (how it was created).
Why it is essential to review the property before buying it?
There are properties whose background or characteristics do not allow them for certain purposes. Let’s look at a clear example:
Some lots have a purely agricultural use but some people want to use them to build hotels, apartments, condominiums, shops, etc, and, although they might have the right size for the project, because of the area where they are located and its characteristics, is not allowed to build on them. Therefore the Recorded Document Search becomes very important.
With the legal background in which the RDS is based, we are able to know if there have been previous problems or other types of restrictions imposed on the property that will affect an eventual real estate project.
But Jurex Law’s service goes further, as we visit the municipality where the land is located, in order to check other general building restrictions, based on the specific Regulatory Plan.
To guarantee the success of your real estate investment, that’s our goal
To Jurex Law the most important thing is to ensure that your investment is well used; that’s why we sit down with you to review the use you want to give to the property and then proceed with the Recorded Document Search.
Thanks to the RDS we will discard or approve construction possibilities